{"id":361,"date":"2023-02-10T18:09:26","date_gmt":"2023-02-10T18:09:26","guid":{"rendered":"https:\/\/activtrades.lat\/macro-journal\/?page_id=361"},"modified":"2023-02-10T18:47:20","modified_gmt":"2023-02-10T18:47:20","slug":"febrero","status":"publish","type":"page","link":"https:\/\/activtrades.lat\/macro-journal\/febrero\/","title":{"rendered":"Febrero"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"361\" class=\"elementor elementor-361\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-1cc5ddd1 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1cc5ddd1\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-wide\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-1701f09f\" data-id=\"1701f09f\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5bfbb1c6 elementor-align-right elementor-mobile-align-right elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"5bfbb1c6\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<link rel=\"stylesheet\" href=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/plugins\/elementor\/assets\/css\/widget-icon-list.min.css\">\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"far fa-calendar-check\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">S\u00e1bado, 11 de Febrero de 2023\u200b<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-719ccf50 elementor-view-default elementor-widget elementor-widget-icon\" data-id=\"719ccf50\" data-element_type=\"widget\" data-widget_type=\"icon.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-icon-wrapper\">\n\t\t\t<div class=\"elementor-icon\">\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"83\" height=\"81\" viewBox=\"0 0 83 81\" fill=\"none\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M83 0H0V80.5038H83V0ZM77.1621 4.36842L43.1556 70.8308C42.4191 72.3338 41.0821 73.5331 39.1317 74.4568C37.9177 75.0219 36.6355 75.4079 35.3123 75.6007H30.1288C28.7785 75.4079 27.4687 75.0219 26.2141 74.4842C24.1816 73.5882 22.7902 72.4162 22.0399 70.9963L5.61649 39.4539H23.6494L38.845 64.8893L69.7824 4.36842H77.1621Z\" fill=\"white\"><\/path><\/svg>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-5046018a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5046018a\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-423b2b19\" data-id=\"423b2b19\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5cee316a elementor-view-default elementor-widget elementor-widget-icon\" data-id=\"5cee316a\" data-element_type=\"widget\" data-widget_type=\"icon.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-icon-wrapper\">\n\t\t\t<div class=\"elementor-icon\">\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"146\" height=\"20\" viewBox=\"0 0 146 20\" fill=\"none\"><path d=\"M79.9543 9.29987H76.6166C76.031 9.29987 75.7383 9.45083 75.7383 9.75273V19.2481H70.1279V9.74905C70.1279 9.44714 69.8242 9.29619 69.2167 9.29619H64.7299L65.8241 7.21228H79.9543V9.29987Z\" fill=\"white\"><\/path><path d=\"M94.8678 19.249H89.1733L85.0232 15.9316V19.249H79.9545V9.54736H86.2821C88.112 9.54736 89.6527 9.72409 90.908 10.0775C92.6463 10.5709 93.5137 11.3441 93.5137 12.3971C93.5137 13.104 93.0965 13.6968 92.2621 14.1717C91.5704 14.5546 90.6555 14.8345 89.5173 15.0038L94.8678 19.249ZM89.2867 12.3934C89.2867 11.3146 87.2775 11.2447 86.5932 11.2447H85.0232V13.3949H86.5932C87.2775 13.3949 89.2867 13.4722 89.2867 12.3934Z\" fill=\"white\"><\/path><path d=\"M108.711 19.2486H103.938L103.393 17.8974H97.9987L97.4534 19.2486H94.4744L98.9465 9.55442L104.249 9.53601L108.711 19.2486ZM102.639 16.0271L100.714 11.2922L98.8001 16.0234L102.639 16.0271Z\" fill=\"white\"><\/path><path d=\"M122.928 14.3998C122.928 15.7326 122.222 16.874 120.805 17.8239C119.389 18.7738 117.687 19.2487 115.7 19.2487H109.376V9.5545H115.7C117.687 9.5545 119.389 10.0295 120.805 10.9794C122.222 11.9256 122.932 13.067 122.928 14.3998ZM118.752 14.374C118.752 12.5294 116.633 11.2518 115.704 11.2518H113.841V17.5514H115.704C116.633 17.5477 118.752 16.2186 118.752 14.374Z\" fill=\"white\"><\/path><path d=\"M134.469 19.2484L123.64 19.2079V9.54309L134.469 9.5615V11.2588H128.884C128.405 11.2588 128.163 11.3803 128.163 11.6233V13.5673H134.473V15.2646H128.163V17.1902C128.163 17.4295 128.405 17.551 128.884 17.551H134.469V19.2484Z\" fill=\"white\"><\/path><path d=\"M145.164 16.428C145.065 18.2616 143.374 19.2483 141.87 19.2483H135.418V17.5289H140.113C140.325 17.5289 140.86 17.4111 140.86 16.9472C140.86 15.0768 135.414 15.1578 135.414 12.3523C135.414 10.2463 137.365 9.43994 138.459 9.43994H145.156V11.1557H140.468C140.256 11.1557 139.74 11.233 139.74 11.7227C139.747 12.945 145.347 13.0297 145.164 16.428Z\" fill=\"white\"><\/path><path d=\"M58.8638 17.75L67.9875 0H66.0076L57.7073 16.1632L53.6304 9.37022H48.7923L53.1986 17.7942C53.3999 18.1734 53.7732 18.4864 54.3185 18.7257C54.6551 18.8693 55.0065 18.9724 55.3688 19.0239H56.7595C57.1145 18.9724 57.4585 18.8693 57.7842 18.7184C58.3075 18.4717 58.6662 18.1514 58.8638 17.75Z\" fill=\"white\"><\/path><path d=\"M48.2455 9.37378H43.755V19.0864H48.2455V9.37378Z\" fill=\"white\"><\/path><path d=\"M42.7044 11.1339H39.3522C38.8764 11.1339 38.6422 11.2554 38.6422 11.4984V19.0866H34.1115V11.4984C34.1115 11.2554 33.8663 11.1339 33.3759 11.1339H29.7527L30.6347 9.36664H42.7008L42.7044 11.1339Z\" fill=\"white\"><\/path><path d=\"M29.4771 19.0868H24.0644C22.0772 19.0868 20.3828 18.6119 18.9738 17.6656C17.5648 16.7194 16.8621 15.5781 16.8621 14.2452C16.8621 12.9161 17.5648 11.7747 18.9738 10.8248C20.3828 9.87492 22.0772 9.39996 24.0644 9.40365H29.4771L28.5951 11.101H24.0791C23.1385 11.101 22.5091 11.4986 22.1907 12.2976C22.0113 12.732 21.9198 13.38 21.9198 14.2489C21.9198 15.1178 22.0113 15.7658 22.1907 16.2003C22.5091 16.9956 23.1385 17.3932 24.0791 17.3932H29.4771V19.0868Z\" fill=\"white\"><\/path><path d=\"M17.6252 19.0867H11.722L11.045 17.4152H4.36603L3.68899 19.0867H0L5.53714 7.08768L12.099 7.06927L17.6252 19.0867ZM10.1081 15.0993L7.72565 9.24155L5.35781 15.0956L10.1081 15.0993Z\" fill=\"white\"><\/path><\/svg>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7757d03f elementor-widget elementor-widget-heading\" data-id=\"7757d03f\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.14.0 - 26-06-2023 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h2 class=\"elementor-heading-title elementor-size-default\">Macro Journal<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-14b05257 elementor-widget elementor-widget-heading\" data-id=\"14b05257\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">ocurriendo ahora<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4eb0dd14 elementor-view-default elementor-widget elementor-widget-icon\" data-id=\"4eb0dd14\" data-element_type=\"widget\" data-widget_type=\"icon.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-icon-wrapper\">\n\t\t\t<div class=\"elementor-icon\">\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"24\" height=\"25\" viewBox=\"0 0 24 25\" fill=\"none\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M23.6083 11.5173C23.4845 11.392 23.3374 11.2926 23.1754 11.2247C23.0135 11.1569 22.8399 11.1219 22.6645 11.1219C22.4892 11.1219 22.3155 11.1569 22.1536 11.2247C21.9916 11.2926 21.8445 11.392 21.7207 11.5173L11.9997 21.334L2.27863 11.5173C2.02831 11.2646 1.6888 11.1227 1.33479 11.1227C0.980782 11.1227 0.641272 11.2646 0.390949 11.5173C0.140627 11.7701 0 12.1128 0 12.4702C0 12.8276 0.140627 13.1704 0.390949 13.4231L11.0558 24.19C11.1796 24.3153 11.3268 24.4147 11.4887 24.4826C11.6507 24.5504 11.8243 24.5854 11.9997 24.5854C12.175 24.5854 12.3486 24.5504 12.5106 24.4826C12.6725 24.4147 12.8197 24.3153 12.9435 24.19L23.6083 13.4231C23.7325 13.2981 23.831 13.1495 23.8982 12.986C23.9654 12.8225 24 12.6472 24 12.4702C24 12.2932 23.9654 12.1179 23.8982 11.9544C23.831 11.7909 23.7325 11.6424 23.6083 11.5173Z\" fill=\"#F0F0F0\"><\/path><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M23.6083 0.378207C23.4845 0.258322 23.3374 0.163206 23.1754 0.0983076C23.0135 0.0334091 22.8399 2.86102e-06 22.6645 2.86102e-06C22.4892 2.86102e-06 22.3155 0.0334091 22.1536 0.0983076C21.9916 0.163206 21.8445 0.258322 21.7207 0.378207L11.9997 9.7681L2.27863 0.378207C2.02831 0.136478 1.6888 0.000679016 1.33479 0.000679016C0.980782 0.000679016 0.641272 0.136478 0.390949 0.378207C0.140627 0.619937 0 0.947792 0 1.28965C0 1.63151 0.140627 1.95936 0.390949 2.20109L11.0558 12.4998C11.1796 12.6197 11.3268 12.7148 11.4887 12.7797C11.6507 12.8446 11.8243 12.8781 11.9997 12.8781C12.175 12.8781 12.3486 12.8446 12.5106 12.7797C12.6725 12.7148 12.8197 12.6197 12.9435 12.4998L23.6083 2.20109C23.7325 2.08151 23.831 1.93944 23.8982 1.78304C23.9654 1.62665 24 1.45898 24 1.28965C24 1.12032 23.9654 0.952652 23.8982 0.796252C23.831 0.639853 23.7325 0.497791 23.6083 0.378207Z\" fill=\"#F0F0F0\"><\/path><\/svg>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-30e6c6dc elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"30e6c6dc\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-wide\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3012a96b\" data-id=\"3012a96b\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-1971741a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1971741a\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-2caaa39c\" data-id=\"2caaa39c\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-244b2c69 elementor-widget elementor-widget-heading\" data-id=\"244b2c69\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">prefacio<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-22857102 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"22857102\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-7d235650\" data-id=\"7d235650\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1ebddec6 elementor-widget elementor-widget-text-editor\" data-id=\"1ebddec6\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.14.0 - 26-06-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<ul><li style=\"list-style-type: none;\"><ul><li><p><span style=\"font-weight: 400;\">La secci\u00f3n Macro Geopol\u00edtica analiza la reapertura de China y la evoluci\u00f3n de los mercados mundiales. Por \u00faltimo, un breve comentario sobre la guerra entre Rusia y Ucrania.\u00a0<\/span><\/p><\/li><\/ul><\/li><li style=\"list-style-type: none;\"><ul><li><p><span style=\"font-weight: 400;\">La secci\u00f3n Macroeconom\u00eda abarca aspectos generales de la inflaci\u00f3n, los tipos de inter\u00e9s y de cambio, as\u00ed como los mercados burs\u00e1til e inmobiliario.\u00a0<\/span><\/p><\/li><li><p><span style=\"font-weight: 400;\">Por \u00faltimo, la secci\u00f3n de Entretenimiento ofrece sugerencias de pel\u00edculas, documentales y libros para el mes de febrero.<\/span><\/p><\/li><\/ul><\/li><\/ul><ul><li style=\"list-style-type: none;\"><ul><li style=\"list-style-type: none;\">\u00a0<\/li><\/ul><\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6bc00ccb elementor-widget elementor-widget-image\" data-id=\"6bc00ccb\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.14.0 - 26-06-2023 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"800\" height=\"534\" src=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/chinaeua-min-1024x684.jpg\" class=\"attachment-large size-large wp-image-371\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/chinaeua-min-1024x684.jpg 1024w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/chinaeua-min-300x200.jpg 300w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/chinaeua-min-768x513.jpg 768w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/chinaeua-min.jpg 1080w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-74afcabb elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"74afcabb\" data-element_type=\"section\" id=\"macro\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-wide\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-50e01662\" data-id=\"50e01662\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-499d8fd5 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"499d8fd5\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-c98f1b8\" data-id=\"c98f1b8\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1f26200c elementor-widget elementor-widget-heading\" data-id=\"1f26200c\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Macro Geopol\u00edtica<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-6a63dcbb elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6a63dcbb\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-1274b16d\" data-id=\"1274b16d\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-39fc6b7f elementor-widget elementor-widget-heading\" data-id=\"39fc6b7f\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">REAPERTURA CHINA\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1e123193 elementor-widget elementor-widget-heading\" data-id=\"1e123193\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">China ha abandonado bruscamente la pol\u00edtica de cero COVID que ha mantenido durante tres a\u00f1os.\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-1a2157aa elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1a2157aa\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-2ba2d29e\" data-id=\"2ba2d29e\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-51ed7fd3 elementor-widget elementor-widget-text-editor\" data-id=\"51ed7fd3\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">La brusca ca\u00edda de la producci\u00f3n econ\u00f3mica, unida a las protestas en varias ciudades, parece haber convencido a las autoridades para revisar el planteamiento.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">Mientras que gran parte del mundo reabri\u00f3 fronteras y redujo las restricciones de viaje, China emple\u00f3 bloqueos cada vez m\u00e1s estrictos, como se observa en el n\u00famero de vuelos m\u00e1s peque\u00f1os en 2022 que en 2020 o 2021.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-57fd7e22\" data-id=\"57fd7e22\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ad5bffd elementor-widget elementor-widget-image\" data-id=\"ad5bffd\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"800\" height=\"534\" src=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_02-1-min-1024x684.jpg\" class=\"attachment-large size-large wp-image-377\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_02-1-min-1024x684.jpg 1024w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_02-1-min-300x200.jpg 300w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_02-1-min-768x513.jpg 768w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_02-1-min.jpg 1080w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-19b66104 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"19b66104\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-2095cf57\" data-id=\"2095cf57\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-19eea891 elementor-widget elementor-widget-image\" data-id=\"19eea891\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"779\" height=\"311\" src=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/Imagem_03-min.jpg\" class=\"attachment-large size-large wp-image-379\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/Imagem_03-min.jpg 779w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/Imagem_03-min-300x120.jpg 300w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/Imagem_03-min-768x307.jpg 768w\" sizes=\"(max-width: 779px) 100vw, 779px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5dabfb3e elementor-align-center elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"5dabfb3e\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.airportia.com\/flights-monitor\/?country=CN%20\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-link\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">https:\/\/www.airportia.com\/flights-monitor\/?country=CN <\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-4ca4e893 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4ca4e893\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-63127240\" data-id=\"63127240\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-75ce46f5 elementor-widget elementor-widget-text-editor\" data-id=\"75ce46f5\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Resulta que el mes pasado, ante el aumento de las protestas y la incapacidad de contener las \u00faltimas variantes de la enfermedad, el gobierno de Xi Jinping suaviz\u00f3 las restricciones de viaje, lo que permiti\u00f3 a la poblaci\u00f3n desarrollar una inmunidad colectiva y reanudar una vida m\u00ednimamente normalizada.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-4dc73551\" data-id=\"4dc73551\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-65c6f6e2 elementor-widget elementor-widget-image\" data-id=\"65c6f6e2\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"800\" height=\"553\" src=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/Imagem_04-min.jpg\" class=\"attachment-large size-large wp-image-383\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/Imagem_04-min.jpg 1024w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/Imagem_04-min-300x207.jpg 300w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/Imagem_04-min-768x531.jpg 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-48f5a93c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"48f5a93c\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-7acae191\" data-id=\"7acae191\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5a889184 elementor-widget elementor-widget-text-editor\" data-id=\"5a889184\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">El 6 de enero, el South China Morning Post public\u00f3 un contundente art\u00edculo, <\/span><span style=\"font-weight: 400;\">especialmente para una empresa con sede en Hong Kong<\/span><span style=\"font-weight: 400;\">, titulado: \u00abLa pol\u00edtica Covid-Cero de China, la reapertura chapucera confundir\u00e1 a los historiadores durante a\u00f1os\u00bb.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3dd449bb elementor-blockquote--skin-border elementor-blockquote--button-color-official elementor-widget elementor-widget-blockquote\" data-id=\"3dd449bb\" data-element_type=\"widget\" data-widget_type=\"blockquote.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor-pro - v3.7.0 - 08-05-2022 *\/\n@charset \"UTF-8\";.entry-content blockquote.elementor-blockquote:not(.alignright):not(.alignleft),.entry-summary blockquote.elementor-blockquote{margin-right:0;margin-left:0}.elementor-widget-blockquote blockquote{margin:0;padding:0;outline:0;font-size:100%;vertical-align:baseline;background:transparent;quotes:none;border:0;font-style:normal;color:#55595c}.elementor-widget-blockquote blockquote:after,.elementor-widget-blockquote blockquote:before,.elementor-widget-blockquote blockquote cite:after,.elementor-widget-blockquote blockquote cite:before,.elementor-widget-blockquote blockquote footer:after,.elementor-widget-blockquote blockquote footer:before{content:\"\";content:none}.elementor-blockquote{-webkit-transition:.3s;-o-transition:.3s;transition:.3s}.elementor-blockquote__author,.elementor-blockquote__content{margin-bottom:0;font-style:normal}.elementor-blockquote__author{font-weight:700}.elementor-blockquote footer{margin-top:12px;display:-webkit-box;display:-ms-flexbox;display:flex;-webkit-box-pack:justify;-ms-flex-pack:justify;justify-content:space-between}.elementor-blockquote__tweet-button{display:-webkit-box;display:-ms-flexbox;display:flex;-webkit-transition:.3s;-o-transition:.3s;transition:.3s;color:#1da1f2;-ms-flex-item-align:end;align-self:flex-end;line-height:1;position:relative;width:-webkit-max-content;width:-moz-max-content;width:max-content}.elementor-blockquote__tweet-button:hover{color:#0967a0}.elementor-blockquote__tweet-button span{font-weight:600}.elementor-blockquote__tweet-button i,.elementor-blockquote__tweet-button span{vertical-align:middle}.elementor-blockquote__tweet-button i+span,.elementor-blockquote__tweet-button svg+span{margin-left:.5em}.elementor-blockquote__tweet-button svg{fill:#1da1f2;height:1em;width:1em}.elementor-blockquote__tweet-label{white-space:pre-wrap}.elementor-blockquote--button-skin-bubble .elementor-blockquote__tweet-button,.elementor-blockquote--button-skin-classic .elementor-blockquote__tweet-button{padding:.7em 1.2em;border-radius:100em;background-color:#1da1f2;color:#fff;font-size:15px}.elementor-blockquote--button-skin-bubble .elementor-blockquote__tweet-button:hover,.elementor-blockquote--button-skin-classic .elementor-blockquote__tweet-button:hover{background-color:#0967a0;color:#fff}.elementor-blockquote--button-skin-bubble .elementor-blockquote__tweet-button:hover:before,.elementor-blockquote--button-skin-classic .elementor-blockquote__tweet-button:hover:before{border-right-color:#0967a0}.elementor-blockquote--button-skin-bubble .elementor-blockquote__tweet-button svg,.elementor-blockquote--button-skin-classic .elementor-blockquote__tweet-button svg{fill:#fff;height:1em;width:1em}.elementor-blockquote--button-skin-bubble.elementor-blockquote--button-view-icon .elementor-blockquote__tweet-button,.elementor-blockquote--button-skin-classic.elementor-blockquote--button-view-icon .elementor-blockquote__tweet-button{padding:0;width:2em;height:2em}.elementor-blockquote--button-skin-bubble.elementor-blockquote--button-view-icon .elementor-blockquote__tweet-button i,.elementor-blockquote--button-skin-classic.elementor-blockquote--button-view-icon .elementor-blockquote__tweet-button i{position:absolute;left:50%;top:50%;-webkit-transform:translate(-50%,-50%);-ms-transform:translate(-50%,-50%);transform:translate(-50%,-50%)}.elementor-blockquote--button-skin-bubble .elementor-blockquote__tweet-button:before{content:\"\";border:.5em solid transparent;border-right-color:#1da1f2;position:absolute;left:-.8em;top:50%;-webkit-transform:translateY(-50%) scaleY(.65);-ms-transform:translateY(-50%) scaleY(.65);transform:translateY(-50%) scaleY(.65);-webkit-transition:.3s;-o-transition:.3s;transition:.3s}.elementor-blockquote--button-skin-bubble.elementor-blockquote--align-left .elementor-blockquote__tweet-button:before{right:auto;left:-.8em;border-right-color:#1da1f2;border-left-color:transparent}.elementor-blockquote--button-skin-bubble.elementor-blockquote--align-left .elementor-blockquote__tweet-button:hover:before{border-right-color:#0967a0}.elementor-blockquote--button-skin-bubble.elementor-blockquote--align-right .elementor-blockquote__tweet-button:before{left:auto;right:-.8em;border-right-color:transparent;border-left-color:#1da1f2}.elementor-blockquote--button-skin-bubble.elementor-blockquote--align-right .elementor-blockquote__tweet-button:hover:before{border-left-color:#0967a0}.elementor-blockquote--skin-boxed .elementor-blockquote{background-color:#e6e9ec;padding:30px}.elementor-blockquote--skin-border .elementor-blockquote{border-color:#e6e9ec;border-left:7px #e6e9ec;border-style:solid;padding-left:20px}.elementor-blockquote--skin-quotation .elementor-blockquote:before{content:\"\u201c\";font-size:100px;color:#e6e9ec;font-family:Times New Roman,Times,serif;font-weight:900;line-height:1;display:block;height:.6em}.elementor-blockquote--skin-quotation .elementor-blockquote__content{margin-top:15px}.elementor-blockquote--align-left .elementor-blockquote__content{text-align:left}.elementor-blockquote--align-left .elementor-blockquote footer{-webkit-box-orient:horizontal;-webkit-box-direction:normal;-ms-flex-direction:row;flex-direction:row}.elementor-blockquote--align-right .elementor-blockquote__content{text-align:right}.elementor-blockquote--align-right .elementor-blockquote footer{-webkit-box-orient:horizontal;-webkit-box-direction:reverse;-ms-flex-direction:row-reverse;flex-direction:row-reverse}.elementor-blockquote--align-center .elementor-blockquote{text-align:center}.elementor-blockquote--align-center .elementor-blockquote__author,.elementor-blockquote--align-center .elementor-blockquote footer{display:block}.elementor-blockquote--align-center .elementor-blockquote__tweet-button{margin-right:auto;margin-left:auto}<\/style>\t\t<blockquote class=\"elementor-blockquote\">\n\t\t\t<p class=\"elementor-blockquote__content\">\n\t\t\t\t\"Los economistas y los historiadores pasar\u00e1n a\u00f1os intentando encontrar las respuestas a algunos de los misterios relativos a la (mala) gesti\u00f3n de la pandemia por parte de China.\n<br \/> <br \/> \n<b>\nLa primera es la cuesti\u00f3n de cu\u00e1les fueron los verdaderos costes de la pol\u00edtica Covid-cero y, en particular, si mereci\u00f3 la pena pagarlos.\n\n[\u2026]<br \/> <br \/> \nEl segundo misterio que los historiadores tratar\u00e1n de comprender es por qu\u00e9 se mantuvo durante tanto tiempo y con tanto fervor ideol\u00f3gico una pol\u00edtica tan obviamente err\u00f3nea e insostenible.\"\n\n[\u2026]<\/b>\n\t\t\t<\/p>\n\t\t\t\t\t<\/blockquote>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1b9cc4f2 elementor-align-left elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"1b9cc4f2\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.scmp.com\/week-asia\/opinion\/article\/3205747\/chinas-zero-covid-policy-botched-reopening-will-puzzle-historians-years-come\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-link\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">https:\/\/www.scmp.com\/week-asia\/opinion\/article\/3205747\/chinas-zero-covid-policy-botched-reopening-will-puzzle-historians-years-come<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4597df43 elementor-widget elementor-widget-text-editor\" data-id=\"4597df43\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">China hizo del COVID cero una cuesti\u00f3n de orgullo nacional, utiliz\u00e1ndolo para (intentar) demostrar a Occidente la superioridad de su sistema socioecon\u00f3mico, pero al final, la mayor\u00eda de los esfuerzos para contener el virus fueron probablemente bald\u00edos.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5870c4bd elementor-widget elementor-widget-text-editor\" data-id=\"5870c4bd\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Reanudaci\u00f3n del turismo\u00a0<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-51d10f5 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"51d10f5\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-37918bb\" data-id=\"37918bb\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5b5b34fb elementor-widget elementor-widget-image\" data-id=\"5b5b34fb\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"800\" height=\"534\" src=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/Imagem_05-min.jpg\" class=\"attachment-large size-large wp-image-390\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/Imagem_05-min.jpg 1024w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/Imagem_05-min-300x200.jpg 300w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/Imagem_05-min-768x512.jpg 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-30c2942d elementor-widget elementor-widget-text-editor\" data-id=\"30c2942d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">* Las acciones de la marca francesa Louis Vuitton (LVMH) suben un impresionante 20% en 2023.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-3003ebce\" data-id=\"3003ebce\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-e6346e2 elementor-widget elementor-widget-heading\" data-id=\"e6346e2\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h5 class=\"elementor-heading-title elementor-size-default\">La reducci\u00f3n de los vuelos chinos ha eliminado, en los dos \u00faltimos a\u00f1os, parte de la demanda de petr\u00f3leo. Y esa demanda parece estar volviendo. Adem\u00e1s, la reapertura beneficia al turismo de otros pa\u00edses, especialmente de Europa, que puede volver a recibir turistas chinos.\n<br\/> <br \/>\nLa reanudaci\u00f3n del turismo es importante para la econom\u00eda europea, ya que los turistas chinos son los mayores consumidores, seguidos de rusos y japoneses.\n\n<\/h5>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-119630bc elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"119630bc\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-16826f5a\" data-id=\"16826f5a\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-549033f1 elementor-widget elementor-widget-text-editor\" data-id=\"549033f1\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Las bolsas chinas tambi\u00e9n se est\u00e1n recuperando de sus m\u00ednimos, aunque siguen muy por debajo de los niveles anteriores a la pandemia.<\/span><\/p><p><b>Hay un valor considerable en muchas empresas chinas, pero los inversores se mantienen cautos, evaluando los riesgos geopol\u00edticos y tratando de averiguar si tiene sentido poseer activos en China ante el aumento de las tensiones entre las principales potencias soberanas.<\/b><\/p><p><span style=\"font-weight: 400;\">Prefiero mantenerme al margen.<\/span><\/p><p><span style=\"font-weight: 400;\">Y parece que varias empresas ya se han dado cuenta de esta realidad.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-25e01acd elementor-widget elementor-widget-text-editor\" data-id=\"25e01acd\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Empresas que salen de China:<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-518b6022 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"518b6022\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-69c65d5e\" data-id=\"69c65d5e\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5cffaa84 elementor-widget elementor-widget-heading\" data-id=\"5cffaa84\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Morgan Stanley ha sabido que Apple est\u00e1 trasladando la producci\u00f3n del iPhone a la India. Se calcula que en 2027 el pa\u00eds producir\u00e1 el 50% de los iPhones del mundo, al mismo nivel que China, que representar\u00e1 alrededor del 85% de la producci\u00f3n de 2022.\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-4cafef89\" data-id=\"4cafef89\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1b98a031 elementor-widget elementor-widget-image\" data-id=\"1b98a031\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"800\" height=\"534\" src=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_06-1-min-1024x684.jpg\" class=\"attachment-large size-large wp-image-397\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_06-1-min-1024x684.jpg 1024w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_06-1-min-300x200.jpg 300w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_06-1-min-768x513.jpg 768w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_06-1-min.jpg 1080w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-146a8860 elementor-widget elementor-widget-heading\" data-id=\"146a8860\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">\n\"India represent\u00f3 solo el 10% de la capacidad total de producci\u00f3n de iPhones en 2022. Sin embargo, la velocidad de la migraci\u00f3n se acelerar\u00e1 debido a la necesidad de diversificar los riesgos ante la incertidumbre del control de la pandemia en China\".\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-42358b68 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"42358b68\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-9aa38ff\" data-id=\"9aa38ff\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-39a9e555 elementor-widget elementor-widget-text-editor\" data-id=\"39a9e555\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Samsung desde 2019 ha trasladado su capacidad de producci\u00f3n de tel\u00e9fonos m\u00f3viles fuera de China, principalmente a Vietnam. Tambi\u00e9n est\u00e1 construyendo plantas de montaje en Indonesia y Corea del Sur.<\/span><\/p><p><span style=\"font-weight: 400;\">Con pol\u00edticas que fomentan la fabricaci\u00f3n local, es probable que India y Vietnam se conviertan en los mayores beneficiarios de la migraci\u00f3n de la cadena de suministro de los tel\u00e9fonos inteligentes, pero otros sectores industriales (automoci\u00f3n, por ejemplo) siguen buscando su lugar ideal.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">\u00bfM\u00e9xico? \u00bfBrasil? \u00bfIrlanda? S\u00f3lo el futuro lo dir\u00e1.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-f723caa elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"f723caa\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-244b7693\" data-id=\"244b7693\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-71bacaed elementor-widget elementor-widget-heading\" data-id=\"71bacaed\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">La poblaci\u00f3n china empieza a disminuir\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-1f4edef4 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1f4edef4\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-133e87f2\" data-id=\"133e87f2\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-66098ddf elementor-widget elementor-widget-text-editor\" data-id=\"66098ddf\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Adem\u00e1s de los riesgos pol\u00edticos, otro punto que las empresas tienen en cuenta es la mano de obra del pa\u00eds. <\/span><b>Se necesita gente joven y dispuesta a ocupar los puestos disponibles, de lo contrario no hay salida<\/b><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">La semana pasada, la Oficina Nacional de Estad\u00edstica de China anunci\u00f3 que la poblaci\u00f3n china se hab\u00eda reducido en 850.000 personas durante 2022. Es s\u00f3lo el 0,6% de la poblaci\u00f3n, pero refleja cambios demogr\u00e1ficos importantes.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-7467e37f elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7467e37f\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-5c9b26d3\" data-id=\"5c9b26d3\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-28fa060f elementor-widget elementor-widget-image\" data-id=\"28fa060f\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"762\" height=\"304\" src=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/Imagem_07-min.jpg\" class=\"attachment-large size-large wp-image-403\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/Imagem_07-min.jpg 762w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/Imagem_07-min-300x120.jpg 300w\" sizes=\"(max-width: 762px) 100vw, 762px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4f47c3d elementor-widget elementor-widget-text-editor\" data-id=\"4f47c3d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">*La tasa de crecimiento demogr\u00e1fico de China ha descendido desde 2012 (l\u00ednea verde).<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-5d8d5e1e elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5d8d5e1e\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-3a60ac3a\" data-id=\"3a60ac3a\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2991fbf3 elementor-widget elementor-widget-image\" data-id=\"2991fbf3\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"800\" height=\"534\" src=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_08-1-min-1024x683.jpg\" class=\"attachment-large size-large wp-image-406\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_08-1-min-1024x683.jpg 1024w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_08-1-min-300x200.jpg 300w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_08-1-min-768x512.jpg 768w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_08-1-min.jpg 1080w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-34cbdb73\" data-id=\"34cbdb73\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-17b21a5c elementor-widget elementor-widget-text-editor\" data-id=\"17b21a5c\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><b>Cuando la poblaci\u00f3n de un pa\u00eds deja de crecer, la edad media aumenta, menos personas entran en la poblaci\u00f3n activa y m\u00e1s personas esperan jubilarse cada a\u00f1o. Esto significa menos personas trabajando para mantener a una mayor poblaci\u00f3n de jubilados.<\/b><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-71fc359b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"71fc359b\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-4f07974a\" data-id=\"4f07974a\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3afff381 elementor-widget elementor-widget-text-editor\" data-id=\"3afff381\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Es importante subrayar que la situaci\u00f3n china no es \u00fanica. Al contrario. La mayor\u00eda de los pa\u00edses desarrollados tambi\u00e9n tienen una poblaci\u00f3n muy envejecida<\/span><b>.<\/b><b>La diferencia es que ninguno de los dos es el motor del mundo.<\/b><\/p><p><span style=\"font-weight: 400;\">Y admit\u00e1moslo, sin motor, un coche apenas puede funcionar, y mucho menos un planeta.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-6e81b741 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6e81b741\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-6ffdd516\" data-id=\"6ffdd516\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3621a41e elementor-widget elementor-widget-heading\" data-id=\"3621a41e\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Un poco de historia:\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-4eec69aa elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4eec69aa\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-3f355552\" data-id=\"3f355552\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6eb35b93 elementor-widget elementor-widget-text-editor\" data-id=\"6eb35b93\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Desde los a\u00f1os 60 hasta principios de los 2000, <\/span><span style=\"font-weight: 400;\">el motor del mundo fue Estados Unidos.<\/span><span style=\"font-weight: 400;\"> Fue un periodo marcado por una generaci\u00f3n extraordinariamente numerosa en la que pr\u00e1cticamente todos los estadounidenses ten\u00edan edad suficiente y estaban dispuestos a trabajar (baby boomers).<\/span><\/p><p>\u00a0<\/p><p>\u00a0<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-7a31b502\" data-id=\"7a31b502\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-61423903 elementor-widget elementor-widget-image\" data-id=\"61423903\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"800\" height=\"534\" src=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_09-1-min-1024x684.jpg\" class=\"attachment-large size-large wp-image-412\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_09-1-min-1024x684.jpg 1024w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_09-1-min-300x200.jpg 300w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_09-1-min-768x513.jpg 768w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_09-1-min.jpg 1080w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-7d822566 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7d822566\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-6d877b79\" data-id=\"6d877b79\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7758cabe elementor-widget elementor-widget-text-editor\" data-id=\"7758cabe\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><b>En 2001 tuvimos la respuesta.<\/b><span style=\"font-weight: 400;\"> China ingres\u00f3 en la Organizaci\u00f3n Mundial del Comercio y durante las dos d\u00e9cadas siguientes proporcion\u00f3 mano de obra y capacidad de fabricaci\u00f3n a Estados Unidos y al resto del mundo.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">Ahora que China se enfrenta a un declive similar, la pregunta es: \u00bfQui\u00e9n es el bote salvavidas de turno?\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">Si es que la hay.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-5e1fec52 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5e1fec52\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-2614fb43\" data-id=\"2614fb43\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-35c90ca elementor-widget elementor-widget-heading\" data-id=\"35c90ca\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Demografia<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-680aafb6 elementor-widget elementor-widget-text-editor\" data-id=\"680aafb6\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">La edad media de China es actualmente de 38 a\u00f1os y, a menos que se produzca un aumento repentino de la natalidad, la tendencia es que entre 10 y 15 a\u00f1os, el perfil de la poblaci\u00f3n ser\u00e1 muy similar al de Jap\u00f3n: envejecer\u00e1 y disminuir\u00e1 cada a\u00f1o.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1e423d0a elementor-widget elementor-widget-image\" data-id=\"1e423d0a\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"754\" height=\"385\" src=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/Imagem_11-min.jpg\" class=\"attachment-large size-large wp-image-417\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/Imagem_11-min.jpg 754w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/Imagem_11-min-300x153.jpg 300w\" sizes=\"(max-width: 754px) 100vw, 754px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6c78bf0 elementor-widget elementor-widget-text-editor\" data-id=\"6c78bf0\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">*La poblaci\u00f3n japonesa lleva disminuyendo desde 2010 y la edad media es de 48 a\u00f1os.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-113d298f elementor-widget elementor-widget-text-editor\" data-id=\"113d298f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">La tasa de crecimiento econ\u00f3mico de China tuvo dos picos de alrededor del 15%, uno en 1992 y otro en 2007. Estos picos coincidieron con la entrada en el mercado laboral de dos grandes grupos de edad (ahora entre 60 y 40 a\u00f1os). Puede que sea una coincidencia, <\/span><b>pero sin duda ayuda tener un gran n\u00famero de j\u00f3venes que acceden al mercado laboral.<\/b><\/p><p><span style=\"font-weight: 400;\">En los pr\u00f3ximos a\u00f1os, estos grupos se ir\u00e1n jubilando, mientras que se ir\u00e1n incorporando menos personas. Esto tambi\u00e9n puede aumentar la presi\u00f3n sobre los salarios, ya que las empresas compiten por un grupo m\u00e1s reducido de trabajadores.\u00a0<\/span><\/p><p><b>Si un pa\u00eds envejece solo (por ejemplo, Jap\u00f3n), es deflacionista; si varios pa\u00edses envejecen juntos, es inflacionista.\u00a0<\/b><\/p><p><span style=\"font-weight: 400;\">Creo en una tendencia inflacionista estructural de larga duraci\u00f3n, que s\u00f3lo podr\u00e1 contenerse con la reducci\u00f3n de las fricciones geopol\u00edticas, la reanudaci\u00f3n de la globalizaci\u00f3n y la entrada de una nueva masa de trabajadores capaces de llenar la ausencia china.<\/span><\/p><p><span style=\"font-weight: 400;\">Aqu\u00ed es donde entra en juego la India.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-4fb92e88 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4fb92e88\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-6841f0f4\" data-id=\"6841f0f4\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-60fc41f9 elementor-widget elementor-widget-heading\" data-id=\"60fc41f9\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">\u00cdndia<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7a29d4e8 elementor-widget elementor-widget-text-editor\" data-id=\"7a29d4e8\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">India es la favorita del mercado y, con diferencia, la favorita para el puesto.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">Con una media de edad de s\u00f3lo 29 a\u00f1os y un fuerte crecimiento demogr\u00e1fico, la India est\u00e1 a punto de superar a China como el pa\u00eds m\u00e1s poblado del mundo <\/span><span style=\"font-weight: 400;\">y, por tanto, es razonable imaginar que en alg\u00fan momento se convertir\u00e1 en el motor del mundo.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-46546b69\" data-id=\"46546b69\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1950b629 elementor-widget elementor-widget-image\" data-id=\"1950b629\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"723\" height=\"800\" src=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/Imagem_12-min.jpg\" class=\"attachment-large size-large wp-image-423\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/Imagem_12-min.jpg 723w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/Imagem_12-min-271x300.jpg 271w\" sizes=\"(max-width: 723px) 100vw, 723px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-46852713 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"46852713\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-20e7ee60\" data-id=\"20e7ee60\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-28bbdb72 elementor-widget elementor-widget-image\" data-id=\"28bbdb72\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"800\" height=\"534\" src=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_13-1-min-1024x684.jpg\" class=\"attachment-large size-large wp-image-425\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_13-1-min-1024x684.jpg 1024w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_13-1-min-300x200.jpg 300w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_13-1-min-768x513.jpg 768w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_13-1-min.jpg 1080w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-2da0f223\" data-id=\"2da0f223\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6865df5f elementor-widget elementor-widget-text-editor\" data-id=\"6865df5f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Mientras que los mercados emergentes crecen a una media del 3,8% anual, India lo hace a un impresionante 8,2%. La mayor contribuci\u00f3n procede del flujo de servicios externalizados. Adem\u00e1s de ser los mejores programadores del mundo, los indios tienen una ventaja que casi ning\u00fan otro mercado emergente posee: un ingl\u00e9s fluido.<\/span><\/p><p><span style=\"font-weight: 400;\">No es de extra\u00f1ar que, en los \u00faltimos 12 meses, India haya encabezado los debates tanto de la \u00e9lite de Davos en el Foro Econ\u00f3mico Mundial como de los principales inversores de todo el mundo. Es uno de los pocos pa\u00edses que registrar\u00e1n resultados positivos en bolsa en 2022, a pesar de un a\u00f1o terrible para los mercados burs\u00e1tiles de todo el mundo.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-7ae2148c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7ae2148c\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-3799c7\" data-id=\"3799c7\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4330e853 elementor-widget elementor-widget-heading\" data-id=\"4330e853\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">En resumen, el pa\u00eds tiene una poblaci\u00f3n joven, mano de obra barata, un mercado de consumo en expansi\u00f3n, pol\u00edticas que fomentan la inversi\u00f3n y es la \u00fanica gran econom\u00eda que espera que la poblaci\u00f3n en edad de trabajar crezca significativamente en la pr\u00f3xima d\u00e9cada.\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-2bed0e36 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2bed0e36\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-2ac9ee8a\" data-id=\"2ac9ee8a\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-605dffc6 elementor-widget elementor-widget-heading\" data-id=\"605dffc6\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">GUERRA<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-5b26c7c8 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5b26c7c8\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-5fd9ff57\" data-id=\"5fd9ff57\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-332cceea elementor-widget elementor-widget-image\" data-id=\"332cceea\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"800\" height=\"480\" src=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_14-1-min-1024x614.jpg\" class=\"attachment-large size-large wp-image-430\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_14-1-min-1024x614.jpg 1024w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_14-1-min-300x180.jpg 300w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_14-1-min-768x461.jpg 768w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_14-1-min.jpg 1080w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-17e99cfe\" data-id=\"17e99cfe\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7b221452 elementor-widget elementor-widget-heading\" data-id=\"7b221452\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">No parece que Occidente est\u00e9 afrontando bien el desarrollo de la guerra entre Rusia y Ucrania.\nCuando en la d\u00e9cada pasada la OTAN se expandi\u00f3 hacia el este e incorpor\u00f3 a Estonia, Letonia, Lituania y Polonia -que limitan con Rusia-, Vladimir Putin lo odi\u00f3, pero fue al invitar a Ucrania a unirse al bloque cuando Europa y Estados Unidos crearon una situaci\u00f3n insostenible que seguramente acabar\u00eda en guerra.\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-792ca5e8 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"792ca5e8\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-8cfe5ae\" data-id=\"8cfe5ae\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ea46eed elementor-widget elementor-widget-heading\" data-id=\"ea46eed\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Desde sempre os russos afirmam que a Ucr\u00e2nia precisa ser neutra. E se eles n\u00e3o conseguem uma Ucr\u00e2nia neutra, tentar\u00e3o criar um estado disfuncional. E est\u00e3o conseguindo.\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-75479758 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"75479758\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-244d22ae\" data-id=\"244d22ae\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4ec049a3 elementor-widget elementor-widget-text-editor\" data-id=\"4ec049a3\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><b>Los rusos siempre han afirmado que Ucrania debe ser neutral.<\/b><span style=\"font-weight: 400;\"> Y si no consiguen una Ucrania neutral, intentar\u00e1n crear un Estado disfuncional. Y lo est\u00e1n consiguiendo.<\/span><\/p><p><span style=\"font-weight: 400;\">Cuanto m\u00e1s tiempo pasa y m\u00e1s sienten los rusos que Occidente se ha unido, no s\u00f3lo para derrotarlos, sino para echarlos de la estanter\u00eda de las grandes potencias mundiales, m\u00e1s reaparece el nacionalismo sovi\u00e9tico.<\/span><\/p><p><span style=\"font-weight: 400;\">A esta guerra a\u00fan le queda mucho tiempo y se desarrollar\u00e1 de formas dif\u00edciles de predecir. Las posibilidades de una escalada catastr\u00f3fica siguen siendo grandes, por lo que la ret\u00f3rica de los l\u00edderes occidentales que abogan por la derrota de Rusia merece una reflexi\u00f3n.\u00a0<\/span><\/p><p><b>Si no hay acuerdo de paz posible, el \u00fanico resultado l\u00f3gico es la continuaci\u00f3n de los combates.<\/b><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-3f3fda76\" data-id=\"3f3fda76\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-135ef650 elementor-widget elementor-widget-image\" data-id=\"135ef650\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"698\" height=\"522\" src=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/Imagem_15-min.jpg\" class=\"attachment-large size-large wp-image-435\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/Imagem_15-min.jpg 698w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/Imagem_15-min-300x224.jpg 300w\" sizes=\"(max-width: 698px) 100vw, 698px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6426ba41 elementor-widget elementor-widget-heading\" data-id=\"6426ba41\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">\n*en azul los pa\u00edses miembros de la OTAN\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-26d6f372 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"26d6f372\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-6ecbe041\" data-id=\"6ecbe041\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-668ca9f elementor-widget elementor-widget-image\" data-id=\"668ca9f\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"800\" height=\"534\" src=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_16-1-min-1024x684.jpg\" class=\"attachment-large size-large wp-image-438\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_16-1-min-1024x684.jpg 1024w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_16-1-min-300x200.jpg 300w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_16-1-min-768x513.jpg 768w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_16-1-min.jpg 1080w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-62eabc68\" data-id=\"62eabc68\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-25452a9b elementor-widget elementor-widget-text-editor\" data-id=\"25452a9b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">La continuaci\u00f3n de los combates conducir\u00e1 a una escalada, <\/span><b>especialmente si Rusia va perdiendo;<\/b><span style=\"font-weight: 400;\"> y la escalada puede acabar tomando forma nuclear.<\/span><\/p><p><span style=\"font-weight: 400;\">La posibilidad es peque\u00f1a, pero existe.<\/span><\/p><p><span style=\"font-weight: 400;\">Y si los rusos utilizan armas nucleares, lo m\u00e1s probable es que lo hagan en Ucrania. Y como Ucrania no tiene armas nucleares, depender\u00edan del poder\u00edo b\u00e9lico nuclear de Occidente.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">Creo que en este punto Estados Unidos dir\u00e1 finalmente el primer no al presidente Zelenski, entre otras cosas porque, si no lo hace, tendremos el comienzo de una guerra termonuclear general.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-2058bfb elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2058bfb\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-wide\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-4cfb00c\" data-id=\"4cfb00c\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-60fb676c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"60fb676c\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-130a0857\" data-id=\"130a0857\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-43eb9cc9 elementor-widget elementor-widget-heading\" data-id=\"43eb9cc9\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">MACROECONOM\u00cdA<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-28f419d5 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"28f419d5\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-6c86c6a0\" data-id=\"6c86c6a0\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1694df89 bdt-backdrop-filter-yes elementor-widget elementor-widget-heading\" data-id=\"1694df89\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">INFLACI\u00d3N\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-379ab8ff elementor-widget elementor-widget-text-editor\" data-id=\"379ab8ff\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Las opiniones de los inversores sobre la inflaci\u00f3n, el riesgo de recesi\u00f3n y la pol\u00edtica monetaria han variado a lo largo de 2022. En las \u00faltimas semanas, sin embargo, el mercado ha estado dominado por un sesgo extremadamente positivo (gr\u00e1fico inferior), con previsiones cambiantes <\/span><span style=\"font-weight: 400;\">para los tipos de inter\u00e9s (a la baja) y los precios de la renta variable (al alza).<\/span><\/p><p><span style=\"font-weight: 400;\">El discurso se vio impulsado por las expectativas de que la inflaci\u00f3n estadounidense <\/span><span style=\"font-weight: 400;\">-seis meses consecutivos a la baja-<\/span><span style=\"font-weight: 400;\"> siga cayendo a un ritmo acelerado a partir de ahora.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-4c4d3b24\" data-id=\"4c4d3b24\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-77e50b0c elementor-widget elementor-widget-image\" data-id=\"77e50b0c\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"724\" height=\"553\" src=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/Imagem_17-1.jpg\" class=\"attachment-full size-full wp-image-936\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/Imagem_17-1.jpg 724w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/Imagem_17-1-300x229.jpg 300w\" sizes=\"(max-width: 724px) 100vw, 724px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-2c03dcaf elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2c03dcaf\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-319ebf7f\" data-id=\"319ebf7f\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2cbb9eec elementor-widget elementor-widget-image\" data-id=\"2cbb9eec\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"751\" height=\"466\" src=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/Imagem_18-1.jpg\" class=\"attachment-large size-large wp-image-937\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/Imagem_18-1.jpg 751w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/Imagem_18-1-300x186.jpg 300w\" sizes=\"(max-width: 751px) 100vw, 751px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-2388002c\" data-id=\"2388002c\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-eab80ee elementor-widget elementor-widget-text-editor\" data-id=\"eab80ee\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><b>El \u00abdetalle\u00bb, aparentemente pasado por alto, es que el \u00e9xito de la Reserva Federal en la ralentizaci\u00f3n de la inflaci\u00f3n se produjo mientras China, la segunda econom\u00eda mundial, se ve\u00eda obstaculizada por las restricciones relacionadas con la pandemia.<\/b><\/p><p><span style=\"font-weight: 400;\">Aunque es probable que la plena reapertura de China impulse el crecimiento econ\u00f3mico mundial -lo que es bueno para los mercados-, tambi\u00e9n podr\u00eda presionar al alza la inflaci\u00f3n mundial.<\/span><\/p><p><span style=\"font-weight: 400;\">Adem\u00e1s, <\/span><b>los movimientos rara vez son lineales<\/b><span style=\"font-weight: 400;\">, por lo que es natural que haya periodos desinflacionistas dentro del ciclo inflacionista, como en mi opini\u00f3n es el caso.\u00a0<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-5149a6bf elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5149a6bf\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-5bc1f4be\" data-id=\"5bc1f4be\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-40629717 elementor-widget elementor-widget-text-editor\" data-id=\"40629717\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Tomemos el ejemplo de Australia. Los anteriores informes sobre el IPC indicaban que la inflaci\u00f3n se estaba ralentizando, sin embargo, las \u00faltimas cifras han sido m\u00e1s altas de lo esperado y el Gobierno ya est\u00e1 considerando un peque\u00f1o aumento de la inflaci\u00f3n de nuevo.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6df4222a elementor-align-left elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"6df4222a\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.reuters.com\/markets\/australia-inflation-surges-again-q4-argues-more-rate-hikes-2023-01-25\/\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-link\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">https:\/\/www.reuters.com\/markets\/australia-inflation-surges-again-q4-argues-more-rate-hikes-2023-01-25\/<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-593014aa elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"593014aa\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-375c275\" data-id=\"375c275\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3bc0757d elementor-widget elementor-widget-heading\" data-id=\"3bc0757d\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">En general, sigo viendo a EE.UU. y a la mayor parte del mundo en una estructura inflacionista duradera. Las fricciones de la globalizaci\u00f3n y las perturbaciones de la oferta se mantienen pr\u00e1cticamente sin cambios y, francamente, bastar\u00eda un solo dato de inflaci\u00f3n que indicara un ligero aumento para que cundiera el p\u00e1nico.\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-3a1b79d7 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3a1b79d7\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-4826a12e\" data-id=\"4826a12e\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7f2224d7 bdt-backdrop-filter-yes elementor-widget elementor-widget-heading\" data-id=\"7f2224d7\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">FED<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-25d514a9 elementor-widget elementor-widget-text-editor\" data-id=\"25d514a9\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">La lectura optimista de la inflaci\u00f3n tuvo otro efecto preocupante: los inversores interpretaron los datos econ\u00f3micos desfavorables como una prueba de que la Reserva Federal pronto dejar\u00e1 de subir los tipos de inter\u00e9s y, en su lugar, los recortar\u00e1.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">Literalmente, las malas noticias se convirtieron en buenas noticias. La ralentizaci\u00f3n del crecimiento del empleo, los datos negativos de las encuestas econ\u00f3micas, la ca\u00edda del valor de la propiedad, el crecimiento negativo de los salarios reales: todo es bueno cuando se mira a trav\u00e9s de la lente de la ca\u00edda de la inflaci\u00f3n.\u00a0<\/span><\/p><p>\u00a0<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-1cddb3bd\" data-id=\"1cddb3bd\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1c07bc67 elementor-widget elementor-widget-image\" data-id=\"1c07bc67\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"728\" height=\"410\" src=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/Imagem_19-min.jpg\" class=\"attachment-2048x2048 size-2048x2048 wp-image-454\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/Imagem_19-min.jpg 728w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/Imagem_19-min-300x169.jpg 300w\" sizes=\"(max-width: 728px) 100vw, 728px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5187b96a elementor-widget elementor-widget-text-editor\" data-id=\"5187b96a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Parece que la mayor\u00eda empieza a creer que lo peor ya ha pasado, que habr\u00e1 un aterrizaje suave y que los tipos de inter\u00e9s no subir\u00e1n mucho m\u00e1s.<\/p><p>\u00bfEs as\u00ed?<\/p><p><span style=\"font-weight: 400;\">Haciendo un ejercicio r\u00e1pido: Supongamos que la inflaci\u00f3n sigue desaceler\u00e1ndose (que no es mi caso base), \u00bfresponder\u00e1 la Fed recortando los tipos de inter\u00e9s? La historia sugiere que no.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-333b79cc elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"333b79cc\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-5d5755d\" data-id=\"5d5755d\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-67087643 elementor-widget elementor-widget-image\" data-id=\"67087643\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"1080\" height=\"721\" src=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_20-1-min.jpg\" class=\"attachment-2048x2048 size-2048x2048 wp-image-457\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_20-1-min.jpg 1080w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_20-1-min-300x200.jpg 300w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_20-1-min-1024x684.jpg 1024w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_20-1-min-768x513.jpg 768w\" sizes=\"(max-width: 1080px) 100vw, 1080px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-7e3a7f4e\" data-id=\"7e3a7f4e\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1c13476 elementor-widget elementor-widget-text-editor\" data-id=\"1c13476\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Los Bancos Centrales, en general, tienden a mantener sus pol\u00edticas durante largos periodos, bien manteniendo una pol\u00edtica monetaria restrictiva y provocando recesiones, bien permaneciendo relajados y permitiendo que la inflaci\u00f3n arraigue. La FED no es diferente.<\/span><\/p><p><b>La tendencia natural es que los tipos de inter\u00e9s se mantengan en niveles elevados durante mucho tiempo.<\/b><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-4ef2d5a5 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4ef2d5a5\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-67175bfe\" data-id=\"67175bfe\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7c0d5283 elementor-widget elementor-widget-text-editor\" data-id=\"7c0d5283\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">En mi opini\u00f3n, los Bancos Centrales s\u00f3lo cambian r\u00e1pidamente de pol\u00edtica en respuesta a algo realmente malo, como una crisis crediticia, una grave desaceleraci\u00f3n econ\u00f3mica o, m\u00e1s recientemente, una pandemia mundial. En otras palabras, si la Reserva Federal cambia de marcha agresivamente, probablemente ser\u00e1 porque las malas noticias empeoraron a\u00fan m\u00e1s.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-7d6fd8cc elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7d6fd8cc\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-40ae33a7\" data-id=\"40ae33a7\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-47efbb2a bdt-backdrop-filter-yes elementor-widget elementor-widget-heading\" data-id=\"47efbb2a\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Mercado laboral\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6f7b2e7f elementor-widget elementor-widget-text-editor\" data-id=\"6f7b2e7f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Los datos del mercado laboral estadounidense refuerzan la tesis del mantenimiento de tipos de inter\u00e9s elevados, apuntando a una tasa de desempleo del 3,4%<\/span><b>, la m\u00e1s baja en d\u00e9cadas:<\/b><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-4dbc5a94\" data-id=\"4dbc5a94\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-41e621a4 elementor-widget elementor-widget-image\" data-id=\"41e621a4\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"718\" height=\"388\" src=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/Imagem_21-min.jpg\" class=\"attachment-large size-large wp-image-463\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/Imagem_21-min.jpg 718w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/Imagem_21-min-300x162.jpg 300w\" sizes=\"(max-width: 718px) 100vw, 718px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3c4fd437 elementor-align-left elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"3c4fd437\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/tradingeconomics.com\/united-states\/unemployment-rate\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-link\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">https:\/\/tradingeconomics.com\/united-states\/unemployment-rate<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-2e374a46 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2e374a46\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-2ebd20f9\" data-id=\"2ebd20f9\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-13b8e4cd elementor-widget elementor-widget-text-editor\" data-id=\"13b8e4cd\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">El viernes (03\/02) tuvimos el nuevo informe de empleo (N\u00f3mina) y fue muy fuerte. Se esperaba la creaci\u00f3n de 185.000 nuevos puestos de trabajo y la cifra fue la impresionante cifra de 517.000 nuevos empleos. Conclusi\u00f3n: no ser\u00e1 f\u00e1cil reducir los tipos de inter\u00e9s con un mercado tan tenso.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-11877256 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"11877256\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-49c4eaf8\" data-id=\"49c4eaf8\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-15b321ca bdt-backdrop-filter-yes elementor-widget elementor-widget-heading\" data-id=\"15b321ca\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Curiosidad:\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3eae01b3 elementor-widget elementor-widget-text-editor\" data-id=\"3eae01b3\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">A los pol\u00edticos siempre les ha gustado ser reelegidos.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">Hace d\u00e9cadas descubrieron un factor decisivo para el voto: <\/span><b>la situaci\u00f3n del mercado laboral en los 6 meses anteriores a las elecciones.<\/b><\/p><p><span style=\"font-weight: 400;\">Desde entonces, las administraciones trabajan para estimular la econom\u00eda entre 12 y 18 meses antes de las elecciones (teniendo en cuenta la inercia hasta que se producen los resultados). As\u00ed pues, es razonable creer que en torno al primer trimestre del a\u00f1o 3 -en este ciclo, 2023- se iniciar\u00e1 alg\u00fan programa de est\u00edmulo.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">\u00bfCu\u00e1l ser\u00e1 el \u00abmal\u00bb de este tiempo?\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">La parte interesante para los inversores es que el mercado de valores es mucho m\u00e1s sensible a este est\u00edmulo adicional que la econom\u00eda y el empleo (como vimos con el est\u00edmulo de Covid en 2020 y 2021).<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-148280a5 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"148280a5\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-62227f4c\" data-id=\"62227f4c\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-91c6440 bdt-backdrop-filter-yes elementor-widget elementor-widget-heading\" data-id=\"91c6440\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">D\u00d3LAR<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2d47c9ac elementor-widget elementor-widget-text-editor\" data-id=\"2d47c9ac\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Enero fue un mes excelente para los mercados de renta variable. El S&amp;P 500 (+6,3%) obtuvo su mejor rentabilidad mensual desde octubre y su mejor enero desde 2019.<\/span><\/p><p><i><span style=\"font-weight: 400;\">\u00abSi pretende ganar dinero comprando acciones, gran parte de ese \u00e9xito depender\u00e1 de un d\u00f3lar estadounidense m\u00e1s d\u00e9bil\u00bb. (macroperi\u00f3dico de junio de 2022).<\/span><\/i><\/p><p><b>Est\u00e1 m\u00e1s d\u00e9bil.<\/b><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-2706228e\" data-id=\"2706228e\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1daf4df7 elementor-widget elementor-widget-image\" data-id=\"1daf4df7\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"719\" height=\"569\" src=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/Imagem_23-1-min.jpg\" class=\"attachment-large size-large wp-image-471\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/Imagem_23-1-min.jpg 719w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/Imagem_23-1-min-300x237.jpg 300w\" sizes=\"(max-width: 719px) 100vw, 719px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-13f13293 elementor-align-left elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"13f13293\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.investing.com\/indices\/usdollar\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-link\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">https:\/\/www.investing.com\/indices\/usdollar<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-e4dbb92 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"e4dbb92\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-186936d8\" data-id=\"186936d8\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-428f331b elementor-widget elementor-widget-text-editor\" data-id=\"428f331b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Parte de la debilidad es reflejo del aumento de los tipos de inter\u00e9s en Europa y Jap\u00f3n -estrechando el diferencial con el tipo estadounidense- y parte es consecuencia de algunos ajustes t\u00e9cnicos.<\/span><\/p><ol><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Contabilidad: El a\u00f1o 2022 fue devastador para las acciones estadounidenses. Existe un beneficio fiscal en la ley que permite a los inversores compensar las p\u00e9rdidas con la venta de acciones en la declaraci\u00f3n anual. En diciembre, las asignaciones a la renta variable se situaron en m\u00ednimos hist\u00f3ricos, lo que sugiere que quienes quer\u00edan vender ya lo hab\u00edan hecho. En enero se produjo el movimiento contrario. Los inversores salieron de compras para reajustar de nuevo sus carteras.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Short squeeze: Si el precio de una acci\u00f3n sube r\u00e1pidamente, los vendedores en corto tienen que apresurarse a cerrar sus posiciones lo antes posible. En enero, un gran volumen de inversores apostaba por la ca\u00edda de las acciones. Cuando las acciones subieron, intentaron salir al mismo tiempo y crearon una compresi\u00f3n en corto.<\/span><\/li><\/ol><p>\u00a0<\/p><p><span style=\"font-weight: 400;\">La correlaci\u00f3n negativa entre el d\u00f3lar y la bolsa estadounidense suele ser fiable. Un mercado burs\u00e1til estadounidense en fuerte alza suele ser un viento en contra para la evoluci\u00f3n del d\u00f3lar. Una vez que vuelva la normalidad, sin movimientos t\u00e9cnicos, sigo creyendo en un d\u00f3lar m\u00e1s fuerte a lo largo del a\u00f1o.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-4d4f1696 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4d4f1696\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-e3cb38\" data-id=\"e3cb38\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5bc34cde elementor-widget elementor-widget-image\" data-id=\"5bc34cde\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"800\" height=\"534\" src=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/Imagem_24-1-min-1024x683.jpg\" class=\"attachment-large size-large wp-image-475\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/Imagem_24-1-min-1024x683.jpg 1024w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/Imagem_24-1-min-300x200.jpg 300w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/Imagem_24-1-min-768x512.jpg 768w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/Imagem_24-1-min.jpg 1080w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-3cf2ba1f\" data-id=\"3cf2ba1f\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-472705d bdt-backdrop-filter-yes elementor-widget elementor-widget-heading\" data-id=\"472705d\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">MERCADO INMOBILIARIO\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1c426868 elementor-widget elementor-widget-text-editor\" data-id=\"1c426868\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">El n\u00famero de viviendas vendidas en EE.UU. ha descendido dr\u00e1sticamente, pero los precios inmobiliarios se mantienen en niveles muy elevados.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">El mercado inmobiliario vive actualmente una situaci\u00f3n ins\u00f3lita: <\/span><b>hay huelga de compradores y huelga de vendedores.<\/b><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-241d64ef elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"241d64ef\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-6b926fe7\" data-id=\"6b926fe7\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1d67ac9f elementor-widget elementor-widget-text-editor\" data-id=\"1d67ac9f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Con tanta gente encerrada en hipotecas fijas a largo plazo con tipos m\u00e1s bajos que los actuales, existe un fuerte incentivo para conservar esas viviendas. Mientras que la combinaci\u00f3n de precios altos y tipos hipotecarios m\u00e1s elevados ahuyenta a los nuevos compradores.<\/span><\/p><p><span style=\"font-weight: 400;\">Con el tiempo, hay quien necesita vender su casa. Hay fallecimientos en la familia, cambios en las condiciones laborales, reducci\u00f3n o aumento de las necesidades de vivienda, etc. Del mismo modo, algunos tendr\u00e1n que comprar viviendas. Cuando esto ocurre, el flujo de efectivo de los hogares se ve afectado negativamente.<\/span><\/p><p><b>Es probable que el estallido de la burbuja inmobiliaria mundial, que apenas est\u00e1 empezando, tenga un efecto econ\u00f3mico m\u00e1s doloroso que la ca\u00edda de las acciones.<\/b><span style=\"font-weight: 400;\"> La vivienda es m\u00e1s importante para la clase media, ya que tiende a concentrar su riqueza en su hogar m\u00e1s que en su cartera de acciones.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">En t\u00e9rminos generales, la gente ve sus casas como un dep\u00f3sito de valor y la base de sus planes de jubilaci\u00f3n, ver que ese valor empieza a desaparecer tiene el potencial de golpear a toda la econom\u00eda.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-32456036 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"32456036\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-6a3e571e\" data-id=\"6a3e571e\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1eccad58 bdt-backdrop-filter-yes elementor-widget elementor-widget-heading\" data-id=\"1eccad58\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">MERCADO BURS\u00c1TIL\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3511404e elementor-widget elementor-widget-text-editor\" data-id=\"3511404e\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">El reciente memor\u00e1ndum \u00abSea Change\u00bb de Howard Marks analizaba el nuevo entorno de inversi\u00f3n para los pr\u00f3ximos a\u00f1os y consideraba que <\/span><b>las estrategias ganadoras de la \u00faltima d\u00e9cada podr\u00edan haber dejado de ser aplicables.<\/b><\/p><p><span style=\"font-weight: 400;\">La esencia del mensaje es que la baja inflaci\u00f3n y el descenso de los tipos de inter\u00e9s han sido los principales factores que han contribuido a la fuerte rentabilidad de la renta variable en las \u00faltimas cuatro d\u00e9cadas.\u00a0<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-797089c3\" data-id=\"797089c3\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7f01bc1e elementor-widget elementor-widget-image\" data-id=\"7f01bc1e\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"800\" height=\"534\" src=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_25-1-min-1024x683.jpg\" class=\"attachment-large size-large wp-image-575\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_25-1-min-1024x683.jpg 1024w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_25-1-min-300x200.jpg 300w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_25-1-min-768x512.jpg 768w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_25-1-min.jpg 1080w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-30a199cd elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"30a199cd\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-27872c87\" data-id=\"27872c87\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-98213a0 elementor-widget elementor-widget-text-editor\" data-id=\"98213a0\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Es posible que ahora nos enfrentemos a un periodo en el que los tipos, por t\u00e9rmino medio, sean m\u00e1s altos y dejen de bajar de forma persistente.<\/span><b> Ser\u00e1 un entorno mucho m\u00e1s dif\u00edcil para los inversores en renta variable.<\/b><\/p><p><span style=\"font-weight: 400;\">Unos tipos de inter\u00e9s m\u00e1s bajos contribuyen al rendimiento de la renta variable (y al crecimiento econ\u00f3mico) de varias maneras:<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-185ad217 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"185ad217\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-6a10de02\" data-id=\"6a10de02\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-36454698 elementor-widget elementor-widget-text-editor\" data-id=\"36454698\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">El coste de los pr\u00e9stamos es menor para las empresas, lo que significa que los beneficios son mayores y hay m\u00e1s proyectos viables.<\/span><\/li><\/ul><p>\u00a0<\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Los consumidores pueden permitirse pedir m\u00e1s prestado, lo que se traduce en un mayor gasto.<\/span><\/li><\/ul><p>\u00a0<\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Los rendimientos de la renta fija son bajos, lo que hace m\u00e1s atractivas las acciones.<\/span><\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-2237e254\" data-id=\"2237e254\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5e804be4 elementor-widget elementor-widget-text-editor\" data-id=\"5e804be4\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Cuando los costes de endeudamiento son bajos, se fomenta el uso del apalancamiento.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Los flujos de caja futuros se descuentan a un tipo de inter\u00e9s m\u00e1s bajo, lo que significa que la renta variable puede justificar valoraciones m\u00e1s altas en el presente.<\/span><\/li><\/ul><p>\u00a0<\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">El efecto neto de la bajada de los tipos de inter\u00e9s sobre el mercado burs\u00e1til e inmobiliario se traduce en un efecto riqueza. Los consumidores se sienten m\u00e1s ricos, lo que contribuye a mejorar la confianza de consumidores e inversores.<\/span><\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-2991ca88 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2991ca88\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-74edbd77\" data-id=\"74edbd77\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-151f4fd9 elementor-widget elementor-widget-image\" data-id=\"151f4fd9\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"800\" height=\"986\" src=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_26-1-min-1-831x1024.jpg\" class=\"attachment-large size-large wp-image-884\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_26-1-min-1-831x1024.jpg 831w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_26-1-min-1-243x300.jpg 243w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_26-1-min-1-768x946.jpg 768w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_26-1-min-1.jpg 1080w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-1a973f1d\" data-id=\"1a973f1d\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3aaa7e77 elementor-widget elementor-widget-text-editor\" data-id=\"3aaa7e77\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Dos factores que han contribuido a las bajas tasas de inflaci\u00f3n y, por tanto, a los bajos tipos de inter\u00e9s de las \u00faltimas d\u00e9cadas han sido la globalizaci\u00f3n y los avances tecnol\u00f3gicos. Puede que los avances tecnol\u00f3gicos sigan proporcionando un viento de cola, pero la globalizaci\u00f3n est\u00e1 empezando a invertirse en muchas partes del mundo.<\/span><\/p><p><span style=\"font-weight: 400;\">Los mercados atraviesan \u00abreg\u00edmenes\u00bb que a menudo rigen la psicolog\u00eda de los inversores. El \u00faltimo r\u00e9gimen, que dur\u00f3 de 2009 a 2020\/21, se caracteriz\u00f3 por la mentalidad de \u00abcomprar la ca\u00edda\u00bb. Esta estrategia sigui\u00f3 funcionando porque i) mucha gente lo hac\u00eda, ii) el dinero era barato y iii) hab\u00eda pocas alternativas a la renta variable.<\/span><\/p><p><span style=\"font-weight: 400;\">Pero los reg\u00edmenes de mercado acaban llegando a su fin y son sustituidos por otros nuevos. Si Howard Marks tiene raz\u00f3n, los inversores tendr\u00e1n que adaptarse a un entorno completamente distinto, con menos crecimiento y a\u00fan menos liquidez.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-55aa0cda elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"55aa0cda\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-4e0c31ff\" data-id=\"4e0c31ff\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7245a55d bdt-backdrop-filter-yes elementor-widget elementor-widget-heading\" data-id=\"7245a55d\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Reflexiones finales.\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ffd96fe elementor-widget elementor-widget-text-editor\" data-id=\"ffd96fe\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">La historia demuestra que las d\u00e9cadas inflacionistas no han sido muy buenas para el rendimiento de la renta variable estadounidense. Los entornos inflacionistas suelen beneficiar a las acciones de valor, las materias primas y algunos tipos espec\u00edficos de econom\u00edas emergentes. Algunas buenas empresas de Brasil, Chile y M\u00e9xico cumplen estos tres criterios.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">Las empresas con ventajas competitivas y buenos equipos directivos se adaptan a medida que cambia el entorno. A largo plazo, los rendimientos est\u00e1n correlacionados con los ingresos de cada empresa, y \u00e9stos dependen de los productos, las ventajas competitivas y la gesti\u00f3n.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">Aunque el escenario es dif\u00edcil y debemos ser m\u00e1s selectivos, las empresas de alta calidad seguir\u00e1n teniendo \u00e9xito e incluso podr\u00e1n consolidar sus posiciones competitivas.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-45a5e4ce elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"45a5e4ce\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-28e56d44\" data-id=\"28e56d44\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-62a3f675 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"62a3f675\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-58a4e86f\" data-id=\"58a4e86f\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-4ab57e80 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4ab57e80\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-3da96e7a\" data-id=\"3da96e7a\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5ac0c6db elementor-widget elementor-widget-heading\" data-id=\"5ac0c6db\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">ENTRETENIMENTO:\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-49d0818 elementor-widget elementor-widget-text-editor\" data-id=\"49d0818\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Las indicaciones de la secci\u00f3n de entretenimiento no est\u00e1n necesariamente relacionadas con los mercados de capitales y las inversiones. La intenci\u00f3n es aportar pocas pero valiosas sugerencias.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-78a4773a elementor-widget elementor-widget-heading\" data-id=\"78a4773a\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">DOCUMENTAL:\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-760ad454 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"760ad454\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-b8c1b01\" data-id=\"b8c1b01\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6e43a71b elementor-widget elementor-widget-text-editor\" data-id=\"6e43a71b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><b>El m\u00e9todo Stutz (Netflix).<\/b><span style=\"font-weight: 400;\"> Phil Stutz es uno de los psiquiatras m\u00e1s destacados del mundo. El documental es una gran introducci\u00f3n al mundo de la terapia y una oportunidad de ver qu\u00e9 cosas puede aportar a tu vida un terapeuta de talla mundial, que se preocupa de verdad por sus pacientes.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-7df78905\" data-id=\"7df78905\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1edae377 elementor-widget elementor-widget-image\" data-id=\"1edae377\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"424\" height=\"619\" src=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/Imagem_27-min.jpg\" class=\"attachment-full size-full wp-image-895\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/Imagem_27-min.jpg 424w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/Imagem_27-min-205x300.jpg 205w\" sizes=\"(max-width: 424px) 100vw, 424px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-4c31457b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4c31457b\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-3649b1c7\" data-id=\"3649b1c7\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-63fa9371 elementor-widget elementor-widget-heading\" data-id=\"63fa9371\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">CARTA DEL DIRECTOR:\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-1254cb0e elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1254cb0e\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-45579e75\" data-id=\"45579e75\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-183aec49 elementor-widget elementor-widget-image\" data-id=\"183aec49\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"1920\" height=\"501\" src=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_28.png\" class=\"attachment-full size-full wp-image-898\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_28.png 1920w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_28-300x78.png 300w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_28-1024x267.png 1024w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_28-768x200.png 768w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_28-1536x401.png 1536w\" sizes=\"(max-width: 1920px) 100vw, 1920px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-7f70c03e\" data-id=\"7f70c03e\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2a3e7828 elementor-align-left elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"2a3e7828\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.oaktreecapital.com\/docs\/default-source\/memos\/sea-change.pdf\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-link\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">https:\/\/www.oaktreecapital.com\/docs\/default-source\/memos\/sea-change.pdf<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-198fded4 elementor-widget elementor-widget-text-editor\" data-id=\"198fded4\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><i><span style=\"font-weight: 400;\">Sea Chance. Memor\u00e1ndum de Howard Marks, publicado el 13 de diciembre, que describe detalladamente c\u00f3mo podemos hacer frente al nuevo entorno de inversi\u00f3n. (S\u00f3lo en ingl\u00e9s)<\/span><\/i><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-576118a8 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"576118a8\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-25135624\" data-id=\"25135624\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1aed90d6 elementor-widget elementor-widget-heading\" data-id=\"1aed90d6\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">S\u00c9RIE<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-1086f2b4 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1086f2b4\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;slideshow&quot;,&quot;background_slideshow_gallery&quot;:[],&quot;background_slideshow_loop&quot;:&quot;yes&quot;,&quot;background_slideshow_slide_duration&quot;:5000,&quot;background_slideshow_slide_transition&quot;:&quot;fade&quot;,&quot;background_slideshow_transition_duration&quot;:500}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-77f87966\" data-id=\"77f87966\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3e5a9655 elementor-widget elementor-widget-text-editor\" data-id=\"3e5a9655\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><b>The Last Of Us (HBO MAX).<\/b><span style=\"font-weight: 400;\"> Es el bombo del momento. Serie basada en el galardonado juego de Playstation lanzado en 2013. Los primeros episodios fueron un \u00e9xito de cr\u00edtica. Merece la pena comprobarlo. Puntuaci\u00f3n IMDB: 9,2.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-4fa6be6b\" data-id=\"4fa6be6b\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-572d75b6 elementor-widget elementor-widget-image\" data-id=\"572d75b6\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"538\" height=\"628\" src=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_29.png\" class=\"attachment-full size-full wp-image-904\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_29.png 538w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/IMAGEM_29-257x300.png 257w\" sizes=\"(max-width: 538px) 100vw, 538px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-5c8c3069 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5c8c3069\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-3d7b2dfd\" data-id=\"3d7b2dfd\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1444635a elementor-widget elementor-widget-spacer\" data-id=\"1444635a\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.14.0 - 26-06-2023 *\/\n.elementor-column .elementor-spacer-inner{height:var(--spacer-size)}.e-con{--container-widget-width:100%}.e-con-inner>.elementor-widget-spacer,.e-con>.elementor-widget-spacer{width:var(--container-widget-width,var(--spacer-size));--align-self:var(--container-widget-align-self,initial);--flex-shrink:0}.e-con-inner>.elementor-widget-spacer>.elementor-widget-container,.e-con-inner>.elementor-widget-spacer>.elementor-widget-container>.elementor-spacer,.e-con>.elementor-widget-spacer>.elementor-widget-container,.e-con>.elementor-widget-spacer>.elementor-widget-container>.elementor-spacer{height:100%}.e-con-inner>.elementor-widget-spacer>.elementor-widget-container>.elementor-spacer>.elementor-spacer-inner,.e-con>.elementor-widget-spacer>.elementor-widget-container>.elementor-spacer>.elementor-spacer-inner{height:var(--container-widget-height,var(--spacer-size))}<\/style>\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-1a54ae85 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1a54ae85\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-7665fdfe\" data-id=\"7665fdfe\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-2982c8cf elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2982c8cf\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-1cd8e786\" data-id=\"1cd8e786\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1137322f elementor-widget elementor-widget-heading\" data-id=\"1137322f\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">\n\nLe deseo lo mejor,\n\n\nGustavo Rigon <br \/>\n\nFebrero 2023\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-1a88deb elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1a88deb\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-7c5b60a\" data-id=\"7c5b60a\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-8e2187d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"8e2187d\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-239521a\" data-id=\"239521a\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-495d09c elementor-widget elementor-widget-image\" data-id=\"495d09c\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"800\" height=\"534\" src=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2024\/12\/placeholder-75-1024x683.png\" class=\"attachment-large size-large wp-image-4330\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2024\/12\/placeholder-75-1024x683.png 1024w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2024\/12\/placeholder-75-300x200.png 300w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2024\/12\/placeholder-75-768x512.png 768w, https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2024\/12\/placeholder-75.png 1200w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-0a93868\" data-id=\"0a93868\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-d1dcf6b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"d1dcf6b\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-5364ab1\" data-id=\"5364ab1\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f71202e elementor-widget elementor-widget-heading\" data-id=\"f71202e\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Contacto<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9dfeac7 elementor-align-left elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"9dfeac7\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-map-marker-alt\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Av. Mauro Ramos, 1512 - Centro, Florian\u00f3polis - SC, 88020-302, Brasil<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"http:\/\/latamdesk@activtrades.com\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"far fa-envelope\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">latamdesk@activtrades.com<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-a444f59\" data-id=\"a444f59\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4e68a4e elementor-hidden-desktop elementor-hidden-tablet elementor-hidden-mobile elementor-widget elementor-widget-heading\" data-id=\"4e68a4e\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Links \u00fateis<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a031629 elementor-align-left elementor-hidden-desktop elementor-hidden-tablet elementor-hidden-mobile elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"a031629\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/activtrades.com.br\/go\/governanca\/\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-link\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Governan\u00e7a<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/activtrades.com.br\/go\/ouvidoria\/\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-link\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Ouvidoria<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/activtrades.com.br\/go\/canal-de-denuncias\/\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-link\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Canal de Den\u00fancias<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-1a8225e\" data-id=\"1a8225e\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9ba2444 elementor-widget elementor-widget-heading\" data-id=\"9ba2444\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">S\u00edguenos en<br>\n<b>Redes Sociales<\/b><\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9d3aa43 e-grid-align-left elementor-shape-rounded elementor-grid-0 elementor-widget elementor-widget-social-icons\" data-id=\"9d3aa43\" data-element_type=\"widget\" data-widget_type=\"social-icons.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.14.0 - 26-06-2023 *\/\n.elementor-widget-social-icons.elementor-grid-0 .elementor-widget-container,.elementor-widget-social-icons.elementor-grid-mobile-0 .elementor-widget-container,.elementor-widget-social-icons.elementor-grid-tablet-0 .elementor-widget-container{line-height:1;font-size:0}.elementor-widget-social-icons:not(.elementor-grid-0):not(.elementor-grid-tablet-0):not(.elementor-grid-mobile-0) .elementor-grid{display:inline-grid}.elementor-widget-social-icons .elementor-grid{grid-column-gap:var(--grid-column-gap,5px);grid-row-gap:var(--grid-row-gap,5px);grid-template-columns:var(--grid-template-columns);justify-content:var(--justify-content,center);justify-items:var(--justify-content,center)}.elementor-icon.elementor-social-icon{font-size:var(--icon-size,25px);line-height:var(--icon-size,25px);width:calc(var(--icon-size, 25px) + (2 * var(--icon-padding, .5em)));height:calc(var(--icon-size, 25px) + (2 * var(--icon-padding, .5em)))}.elementor-social-icon{--e-social-icon-icon-color:#fff;display:inline-flex;background-color:#69727d;align-items:center;justify-content:center;text-align:center;cursor:pointer}.elementor-social-icon i{color:var(--e-social-icon-icon-color)}.elementor-social-icon svg{fill:var(--e-social-icon-icon-color)}.elementor-social-icon:last-child{margin:0}.elementor-social-icon:hover{opacity:.9;color:#fff}.elementor-social-icon-android{background-color:#a4c639}.elementor-social-icon-apple{background-color:#999}.elementor-social-icon-behance{background-color:#1769ff}.elementor-social-icon-bitbucket{background-color:#205081}.elementor-social-icon-codepen{background-color:#000}.elementor-social-icon-delicious{background-color:#39f}.elementor-social-icon-deviantart{background-color:#05cc47}.elementor-social-icon-digg{background-color:#005be2}.elementor-social-icon-dribbble{background-color:#ea4c89}.elementor-social-icon-elementor{background-color:#d30c5c}.elementor-social-icon-envelope{background-color:#ea4335}.elementor-social-icon-facebook,.elementor-social-icon-facebook-f{background-color:#3b5998}.elementor-social-icon-flickr{background-color:#0063dc}.elementor-social-icon-foursquare{background-color:#2d5be3}.elementor-social-icon-free-code-camp,.elementor-social-icon-freecodecamp{background-color:#006400}.elementor-social-icon-github{background-color:#333}.elementor-social-icon-gitlab{background-color:#e24329}.elementor-social-icon-globe{background-color:#69727d}.elementor-social-icon-google-plus,.elementor-social-icon-google-plus-g{background-color:#dd4b39}.elementor-social-icon-houzz{background-color:#7ac142}.elementor-social-icon-instagram{background-color:#262626}.elementor-social-icon-jsfiddle{background-color:#487aa2}.elementor-social-icon-link{background-color:#818a91}.elementor-social-icon-linkedin,.elementor-social-icon-linkedin-in{background-color:#0077b5}.elementor-social-icon-medium{background-color:#00ab6b}.elementor-social-icon-meetup{background-color:#ec1c40}.elementor-social-icon-mixcloud{background-color:#273a4b}.elementor-social-icon-odnoklassniki{background-color:#f4731c}.elementor-social-icon-pinterest{background-color:#bd081c}.elementor-social-icon-product-hunt{background-color:#da552f}.elementor-social-icon-reddit{background-color:#ff4500}.elementor-social-icon-rss{background-color:#f26522}.elementor-social-icon-shopping-cart{background-color:#4caf50}.elementor-social-icon-skype{background-color:#00aff0}.elementor-social-icon-slideshare{background-color:#0077b5}.elementor-social-icon-snapchat{background-color:#fffc00}.elementor-social-icon-soundcloud{background-color:#f80}.elementor-social-icon-spotify{background-color:#2ebd59}.elementor-social-icon-stack-overflow{background-color:#fe7a15}.elementor-social-icon-steam{background-color:#00adee}.elementor-social-icon-stumbleupon{background-color:#eb4924}.elementor-social-icon-telegram{background-color:#2ca5e0}.elementor-social-icon-thumb-tack{background-color:#1aa1d8}.elementor-social-icon-tripadvisor{background-color:#589442}.elementor-social-icon-tumblr{background-color:#35465c}.elementor-social-icon-twitch{background-color:#6441a5}.elementor-social-icon-twitter{background-color:#1da1f2}.elementor-social-icon-viber{background-color:#665cac}.elementor-social-icon-vimeo{background-color:#1ab7ea}.elementor-social-icon-vk{background-color:#45668e}.elementor-social-icon-weibo{background-color:#dd2430}.elementor-social-icon-weixin{background-color:#31a918}.elementor-social-icon-whatsapp{background-color:#25d366}.elementor-social-icon-wordpress{background-color:#21759b}.elementor-social-icon-xing{background-color:#026466}.elementor-social-icon-yelp{background-color:#af0606}.elementor-social-icon-youtube{background-color:#cd201f}.elementor-social-icon-500px{background-color:#0099e5}.elementor-shape-rounded .elementor-icon.elementor-social-icon{border-radius:10%}.elementor-shape-circle .elementor-icon.elementor-social-icon{border-radius:50%}<\/style>\t\t<div class=\"elementor-social-icons-wrapper elementor-grid\">\n\t\t\t\t\t\t\t<span class=\"elementor-grid-item\">\n\t\t\t\t\t<a class=\"elementor-icon elementor-social-icon elementor-social-icon-instagram elementor-repeater-item-b806270\" href=\"https:\/\/www.instagram.com\/activtrades_latinoamerica\/\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-screen-only\">Instagram<\/span>\n\t\t\t\t\t\t<i class=\"fab fa-instagram\"><\/i>\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t\t\t\t<span class=\"elementor-grid-item\">\n\t\t\t\t\t<a class=\"elementor-icon elementor-social-icon elementor-social-icon-youtube elementor-repeater-item-2fe92a4\" href=\"https:\/\/www.youtube.com\/channel\/UCjofvoJzOvot6ZHst15GHUw\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-screen-only\">Youtube<\/span>\n\t\t\t\t\t\t<i class=\"fab fa-youtube\"><\/i>\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t\t\t\t<span class=\"elementor-grid-item\">\n\t\t\t\t\t<a class=\"elementor-icon elementor-social-icon elementor-social-icon-facebook elementor-repeater-item-d6063c8\" href=\"https:\/\/m.facebook.com\/ActivTradesLA\/\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-screen-only\">Facebook<\/span>\n\t\t\t\t\t\t<i class=\"fab fa-facebook\"><\/i>\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-4a70289 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4a70289\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-4261292\" data-id=\"4261292\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-e6ba4fd elementor-widget elementor-widget-text-editor\" data-id=\"e6ba4fd\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<h5>Descargo de Responsabilidad<\/h5><p><br \/>ActivTrades Corp es una entidad debidamente registrada en la Mancomunidad de las Bahamas (\u201cBahamas\u201d) con el n\u00famero 199667(B), con domicilio social en 209 &amp; 210 Church Street, Standyport, P.O. Box SP 64388, Nassau, Bahamas, autorizado y regulado por la Securities Commission of the Bahamas (SCB), que es signataria del Memorando de Entendimiento Multilateral de la Organizaci\u00f3n de Comisiones de Valores (IOSCO). ActivTrades Corp es una subsidiaria de ActivTrades PLC, una entidad con sede en The Loom, Office 2.5, 14 Gower\u2019s Walk, Londres, Reino Unido \u2013 E1 8PY, autorizada y regulada por la Autoridad de Conducta Financiera (FCA) en el Reino Unido con el n\u00famero 43441.<\/p><p>Los productos ofrecidos por ActivTrades Corp son instrumentos complejos y conllevan un alto riesgo de perder capital r\u00e1pidamente debido al apalancamiento. La mayor\u00eda de los clientes minoristas pierden dinero cuando negocian derivados con ActivTrades Corp. Consulta en www.activtrades.com el porcentaje actualizado de clientes que pierden dinero con esta instituci\u00f3n al operar con Derivados. Debe considerar su grado de comprensi\u00f3n de c\u00f3mo funcionan los productos complejos y si puede arriesgarse a perder su inversi\u00f3n. El rendimiento pasado no garantiza resultados futuros. Las fluctuaciones de precios pueden ser particularmente fuertes en el caso de un activo con mayor volatilidad y el valor de una inversi\u00f3n puede caer repentina y sustancialmente.<\/p><p>Los activos financieros o inversiones presentados en esta plataforma pueden no ser adecuados para todos los inversores, ya que no tienen en cuenta los objetivos de inversi\u00f3n, la situaci\u00f3n financiera o las necesidades espec\u00edficas de cada inversor, considerando la pol\u00edtica de idoneidad. Los inversores deben obtener asesoramiento financiero independiente, en funci\u00f3n de sus caracter\u00edsticas personales, antes de tomar una decisi\u00f3n de inversi\u00f3n. Te recomendamos conocer las caracter\u00edsticas y riesgos de los mercados antes de emprender.<\/p><p>Toda comunicaci\u00f3n realizada a trav\u00e9s de la world wide web est\u00e1 sujeta a interrupciones o retrasos, que pueden impedir o perjudicar el env\u00edo o recepci\u00f3n de informaci\u00f3n actualizada. ActivTrades Corp, ActivTrades PLC y\/o cualquier otra afiliada no ser\u00e1n responsables de los datos sufridos por sus clientes como resultado de la falla de los servicios prestados por terceros.<\/p><p>ActivTrades no hace recomendaciones ni brinda asesoramiento sobre asuntos de inversi\u00f3n, financieros, legales o fiscales. La informaci\u00f3n contenida en este sitio web tiene \u00fanicamente fines informativos, no constituye ni debe interpretarse como un an\u00e1lisis, solicitud de compra o venta, oferta o recomendaci\u00f3n de cualquier activo financiero o inversi\u00f3n, asesoramiento legal o fiscal, sugerencia de asignaci\u00f3n o adopci\u00f3n de estrategias por parte de parte de ActivTrades.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<div class=\"elementor-element elementor-element-4b6691d elementor-widget elementor-widget-text-editor\" data-id=\"4b6691d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>S\u00e1bado, 11 de Febrero de 2023\u200b Macro Journal ocurriendo ahora prefacio La secci\u00f3n Macro Geopol\u00edtica analiza la reapertura de China y la evoluci\u00f3n de los mercados mundiales. Por \u00faltimo, un breve comentario sobre la guerra entre Rusia y Ucrania.\u00a0 La secci\u00f3n Macroeconom\u00eda abarca aspectos generales de la inflaci\u00f3n, los tipos de inter\u00e9s y de cambio, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"elementor_canvas","meta":{"inline_featured_image":false},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v18.9 (Yoast SEO v20.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Febrero - Macro Jornal<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/activtrades.lat\/macro-journal\/febrero\/\" \/>\n<meta property=\"og:locale\" content=\"es_ES\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Febrero\" \/>\n<meta property=\"og:description\" content=\"S\u00e1bado, 11 de Febrero de 2023\u200b Macro Journal ocurriendo ahora prefacio La secci\u00f3n Macro Geopol\u00edtica analiza la reapertura de China y la evoluci\u00f3n de los mercados mundiales. Por \u00faltimo, un breve comentario sobre la guerra entre Rusia y Ucrania.\u00a0 La secci\u00f3n Macroeconom\u00eda abarca aspectos generales de la inflaci\u00f3n, los tipos de inter\u00e9s y de cambio, [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/activtrades.lat\/macro-journal\/febrero\/\" \/>\n<meta property=\"og:site_name\" content=\"Macro Jornal\" \/>\n<meta property=\"article:modified_time\" content=\"2023-02-10T18:47:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/chinaeua-min-1024x684.jpg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Tiempo de lectura\" \/>\n\t<meta name=\"twitter:data1\" content=\"25 minutos\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/activtrades.lat\/macro-journal\/febrero\/\",\"url\":\"https:\/\/activtrades.lat\/macro-journal\/febrero\/\",\"name\":\"Febrero - Macro Jornal\",\"isPartOf\":{\"@id\":\"https:\/\/activtrades.lat\/macro-journal\/#website\"},\"datePublished\":\"2023-02-10T18:09:26+00:00\",\"dateModified\":\"2023-02-10T18:47:20+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/activtrades.lat\/macro-journal\/febrero\/#breadcrumb\"},\"inLanguage\":\"es\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/activtrades.lat\/macro-journal\/febrero\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/activtrades.lat\/macro-journal\/febrero\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Portada\",\"item\":\"https:\/\/activtrades.lat\/macro-journal\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Febrero\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/activtrades.lat\/macro-journal\/#website\",\"url\":\"https:\/\/activtrades.lat\/macro-journal\/\",\"name\":\"Macro Jornal\",\"description\":\"Una visi\u00f3n general del mercado financiero\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/activtrades.lat\/macro-journal\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"es\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Febrero - Macro Jornal","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/activtrades.lat\/macro-journal\/febrero\/","og_locale":"es_ES","og_type":"article","og_title":"Febrero","og_description":"S\u00e1bado, 11 de Febrero de 2023\u200b Macro Journal ocurriendo ahora prefacio La secci\u00f3n Macro Geopol\u00edtica analiza la reapertura de China y la evoluci\u00f3n de los mercados mundiales. Por \u00faltimo, un breve comentario sobre la guerra entre Rusia y Ucrania.\u00a0 La secci\u00f3n Macroeconom\u00eda abarca aspectos generales de la inflaci\u00f3n, los tipos de inter\u00e9s y de cambio, [&hellip;]","og_url":"https:\/\/activtrades.lat\/macro-journal\/febrero\/","og_site_name":"Macro Jornal","article_modified_time":"2023-02-10T18:47:20+00:00","og_image":[{"url":"https:\/\/activtrades.lat\/macro-journal\/wp-content\/uploads\/sites\/8\/2023\/02\/chinaeua-min-1024x684.jpg"}],"twitter_card":"summary_large_image","twitter_misc":{"Tiempo de lectura":"25 minutos"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/activtrades.lat\/macro-journal\/febrero\/","url":"https:\/\/activtrades.lat\/macro-journal\/febrero\/","name":"Febrero - Macro Jornal","isPartOf":{"@id":"https:\/\/activtrades.lat\/macro-journal\/#website"},"datePublished":"2023-02-10T18:09:26+00:00","dateModified":"2023-02-10T18:47:20+00:00","breadcrumb":{"@id":"https:\/\/activtrades.lat\/macro-journal\/febrero\/#breadcrumb"},"inLanguage":"es","potentialAction":[{"@type":"ReadAction","target":["https:\/\/activtrades.lat\/macro-journal\/febrero\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/activtrades.lat\/macro-journal\/febrero\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Portada","item":"https:\/\/activtrades.lat\/macro-journal\/"},{"@type":"ListItem","position":2,"name":"Febrero"}]},{"@type":"WebSite","@id":"https:\/\/activtrades.lat\/macro-journal\/#website","url":"https:\/\/activtrades.lat\/macro-journal\/","name":"Macro Jornal","description":"Una visi\u00f3n general del mercado financiero","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/activtrades.lat\/macro-journal\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"es"}]}},"_links":{"self":[{"href":"https:\/\/activtrades.lat\/macro-journal\/wp-json\/wp\/v2\/pages\/361"}],"collection":[{"href":"https:\/\/activtrades.lat\/macro-journal\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/activtrades.lat\/macro-journal\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/activtrades.lat\/macro-journal\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/activtrades.lat\/macro-journal\/wp-json\/wp\/v2\/comments?post=361"}],"version-history":[{"count":32,"href":"https:\/\/activtrades.lat\/macro-journal\/wp-json\/wp\/v2\/pages\/361\/revisions"}],"predecessor-version":[{"id":1272,"href":"https:\/\/activtrades.lat\/macro-journal\/wp-json\/wp\/v2\/pages\/361\/revisions\/1272"}],"wp:attachment":[{"href":"https:\/\/activtrades.lat\/macro-journal\/wp-json\/wp\/v2\/media?parent=361"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}